W.P. Carey reports Q2 adjusted FFO $1.17, consensus $1.16

Reports Q2 revenue $389.7M, consensus $384.14M. “Dispositions from our office exit strategy are now behind us and we have completed refinancing our two 2024 bond maturities, raising over a billion dollars of attractively priced debt. With our debt and equity needs this year already addressed, and as we further redeploy capital into new investments, we expect higher AFFO in the second half,” said CEO Jason Fox. “Although we’re trimming our expectations for the full year – driven primarily by two larger-sized transactions that recently fell out of our pipeline – our liquidity remains at an all-time high, and we are very well positioned to close active deals and grow our pipeline, while taking advantage of what is typically a more active period around the end of the year.”